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How much is car insurance in Monroe?
|Area||Average Monthly Car Insurance Premium|
As you can see, car insurance policies across the rest of North Carolina are about $7 a month cheaper than the rates drivers pay in Monroe.
On the other hand, car insurance rates in Monroe are more affordable than the national average. On average, it's about $21 less to insure your vehicle in Monroe than it is in the rest of the U.S.
The price you pay may very well be higher or lower than the rates you see, but we can help explain why. Insurance companies weigh a variety of factors when determining how much to charge you for car insurance. Things like gender, vehicle make and model, driving record, age and, in some areas, credit score can all affect your monthly premium.
We've done the heavy lifting for you and broken down the average rate for Monroe so that you can get a more accurate idea of what your monthly bill might be. To find out if you're getting the cheapest rate, just enter your ZIP below and find out in minutes!
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Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
Generally, the older you are, the more experienced you are on the roads, right? That experience can lead to some serious savings when it comes to auto insurance premiums. As you can see, 18-24-year-olds pay $26 more than drivers 65 and older.
As you get older, you can expect to see a drop in your monthly premium every 10 years. Once you hit retirement, however, you may see your rates rise again in Monroe.
Average Car Insurance Rates by Gender
In general, female drivers pay less for car insurance than their male counterparts. In Monroe, however, male and female drivers both pay about the same rate for insurance coverage.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Your driving record can have a tremendous impact on your car insurance rates. Drivers who avoid accidents and tickets will pay lower rates than those with infractions. Drivers in Monroe with one accident will pay around $84 a month. In addition, drivers with a single ticket on their record can expect to pay around $70 a month on average.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$52|
|15 Years or Older||$57|
If you look at the first table above, you'll see that trucks and vans are by and large the cheapest vehicles to insure in Monroe, with drivers paying around $50 per month for insurance coverage.
SUV drivers will see rates of about $55 to insure their car, while car owners typically pay around $65 a month.
Vehicle age has an impact on the cost of your policy as well. Generally, newer vehicles are going to be the most expensive to insure. However, once your car is close to 5 years old, you may start to see your monthly premium decrease. The most expensive vehicles to insure in Monroe are vehicles two-to -three years old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$60|
On average, married policyholders will pay slightly less for car insurance. This usually boils down to owners having multiple vehicles on the same policy, something many companies extend special discounts for.
Despite married couples normally paying less than single drivers for auto insurance, the rates for both groups in Monroe are on par with each other.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$51|
Another factor taken into consideration is your housing situation. Renters can expect to pay around $15 a month more than drivers who own property in Monroe. Those who live with their parents, however, can expect to pay a lot more.
That being said, many companies will offer you a discount if you bundle your homeowners or rental insurance policy with your auto insurance.
Car Insurance Companies in Monroe, NC
Recent trends in car insurance for Monroe drivers
Since average rates are constantly changing, it's a smart move to research the local trends in your area before shopping for coverage.
Auto insurance rates in Monroe rose from 2017-2018, when they reached a high of $80. This changed in 2021, when rates began to decrease. This trend has continued through the present, where rates recently hit $54.
How does Monroe compare to neighboring areas?
Why are car insurance rates in Monroe different from other areas?
There are a variety of factors car insurance companies take into consideration when figuring out how much to charge for a monthly rate. The price of your insurance policy will depend largely on where you live and drive and will be influenced by things such as:
- Regional crime rates
- Number of drivers in the area
- Frequency of car accidents
- Off-street parking availability
- Community regulations
It's good to be aware of these factors (even though you may not be able to do much to influence them) as you shop for a new policy or consider relocating. Different cities and towns will each have different rates, so guides like these are a handy way to get started.
How can I find the cheapest car insurance in Monroe?
In the end, the only way to know exactly what your rate will be is to request a quote from a car insurance company.
But hold on! Compare.com does all of that work for you. Just punch in your ZIP Code below, answer a few questions related to the factors we outlined above, and you'll be comparing the cheapest quotes from a bulk of the car insurance companies offering coverage in Monroe.
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Monroe Insurance FAQs
What factors affect car insurance quotes in Monroe?
The factors that car insurance companies take into account when calculating your monthly cost include things you can't control like your age and gender, but also factors like your address, driving record, marital status, credit score, plus your vehicle's year and make and model.
Why is the cost of car insurance in Monroe different from other neighboring cities?
Auto insurance companies consider regional factors, such as local laws, crime rates, and parking situations into account when calculating the monthly rate for coverage. Since these can all vary from city to city the rates you may see can differ from neighboring areas.
Which car insurance company will offer me the cheapest rate in Monroe?
Since the factors that go into calculating your monthly payment vary from person to person, there isn't one company that will always offer the cheapest rate to everybody. You can be confident that you're receiving the best price possible by using sites like Compare.com to compare multiple quotes at once.
Do I need to change my insurance if I move to Monroe?
Whenever you relocate or experience another major life event, such as finding a new job or getting married, you should consider revisiting your current insurance policy. Using services like Compare.com to compare quotes from multiple companies at once is a great way to make sure you're getting the cheapest rate for your new location.
Do I need to wait for my policy to expire to switch to a different car insurance company?
No. Regardless of how much time is left on your current policy, you can switch companies at any time. So, whether you're considering moving to Monroe or just curious if you're getting the best rates, why not take 10 minutes and see if Compare.com can save you some extra cash?
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